Novare Capital Management LLC Takes $401,000 Position in Citigroup Inc. (NYSE:C)

Novare Capital Management LLC bought a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,651 shares of the company's stock, valued at approximately $401,000.

A number of other institutional investors and hedge funds have also made changes to their positions in C. Orion Capital Management LLC bought a new position in shares of Citigroup in the fourth quarter valued at approximately $28,000. MorganRosel Wealth Management LLC bought a new stake in Citigroup during the first quarter worth approximately $28,000. American National Bank & Trust acquired a new stake in Citigroup in the first quarter worth approximately $29,000. Mascagni Wealth Management Inc. bought a new position in Citigroup during the 4th quarter valued at $34,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Citigroup during the 4th quarter valued at $39,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

NYSE:C traded up $1.91 during trading hours on Friday, hitting $88.67. 13,229,886 shares of the company's stock traded hands, compared to its average volume of 14,658,879. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $88.80. The business's fifty day simple moving average is $76.63 and its two-hundred day simple moving average is $74.20. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52. The firm has a market cap of $165.61 billion, a P/E ratio of 14.01, a P/E/G ratio of 0.69 and a beta of 1.34.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to analysts' expectations of $21.34 billion. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. On average, research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Citigroup from $94.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday. JPMorgan Chase & Co. cut their target price on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. TD Cowen initiated coverage on Citigroup in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 price target on the stock. Royal Bank Of Canada cut their target price on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Finally, Oppenheimer reissued an "outperform" rating on shares of Citigroup in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Citigroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.43.

Insider Buying and Selling

In other news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director owned 13,048 shares of the company's stock, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.08% of the stock is currently owned by insiders.

Citigroup Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.